DA Davidson analyst Rishi Jaluria initiated Pegasystems (PEGA) with a Buy rating and a price target of $72, citing the company's market leading position in the business process management and case management markets amid the crowing presence of customer relationship management technologies. Jaluria says the company continues to take market share from legacy vendors like IBM (IBM) and Oracle (ORCL) and increasing its competitive position in CRM, while driving opportunities for margin expansion.

Notable companies reporting after the market close, with earnings consensus, include Meta Plataforms (META), consensus $4.32... IBM (IBM), consensus $1.60... ServiceNow (NOW), consensus $3.14... Lam Research (LRCX), consensus $7.30... Chipotle Mexican Grill (CMG), consensus $11.68... O'Reilly Automotive (ORLY), consensus $9.26... Ford Motor (F), consensus 42c... United Rentals (URI), consensus $8.32... Align Technology (ALGN), consensus $1.97... Molina Healthcare (MOH), consensus $5.59... Teradyne (TER), consensus 33c... Universa Health Services (UHS), consensus $3.16... Western Union (WU), consensus 41c.

Pre-earnings options volume in IBM is 1.3x normal with calls leading puts 9:4. Implied volatility suggests the market is anticipating a move near 5.0%, or $9.21, after results are released. Median move over the past eight quarters is 4.8%.

IBM (IBM) is nearing a deal to acquire HashiCorp (HCP) for about $35 per share, Ryan Gould and Brody Ford of Bloomberg report, citing people with knowledge of the matter. IBM and HashiCorp could announce the deal as soon as Wednesday, sources told Bloomberg. Shares of HashiCorp are up 9% to $31.81 following the report.

IBM (IBM) is scheduled to report results of its fiscal first quarter after the market close on April 24, with a conference call scheduled for 5:00 pm ET. What to watch... To see the rest of the story go to thefly.com. See Story Here

Vertex (VERX) announced that it has been selected to join the Oracle Independent Software Vendor, ISV, Accelerator for SaaS Initiative. With expertise in Oracle (ORCL) Cloud Fusion Cloud Applications integrations, Vertex continues to leverage the power of contract and tax data to optimize customer operations and outcomes. "Building on our longstanding relationship with Oracle, we are thrilled to join the Oracle ISV Accelerator," said Bradd Wildstein, Vice President, Indirect Sales at Vertex, Inc. "Through this partnership, Vertex can now enhance our customers' finance and sales processes by integrating essential tax solutions into Oracle Fusion Applications. It's more than just data integration - it's about unifying disparate functions, streamlining operations, and amplifying benefits for our mutual customers."

Oracle Chairman Larry Ellison said the company is moving its world headquarters to Nashville, Tennessee, Ashley Capoot of CNBC reports. Ellison said Oracle is moving to a "huge campus" and it is closer to "the center of the industry we're most concerned about, which is the health-care industry." Reference Link

BTIG downgraded HashiCorp (HCP) to Neutral from Buy without a price target. The analyst sees a balanced risk/reward after the stock's recent run following takeover speculation. The firm believes the potential takeover by IBM (IBM) has a "lot of merits." HashiCorp is a good strategic asset with strong product capabilities, and deal synergies with a large acquirer such as IBM would be substantial, the analyst tells investors in a research note. Given there is still some uncertainty on a deal being consummated and a typical closing process in the 6-9 month range, BTIG sees limited incremental upside to shares in the near term.

Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.  1... To see the rest of the story go to thefly.com. See Story Here

IBM (IBM) is nearing an acquisition of HashiCorp (HCP) and deal could come together in the coming days, Lauren Thomas and Laura Cooper of Wall Street Journal report, citing people familiar with the matter. A deal for HashiCorp would likely command a premium above where the stock is currently trading, the Journal says. Shares of HashiCorp jumped 7% to $26.37 following the report before halting for volatility. IBM is down 66c to $181.28 in afternoon trade. Reference Link

Jefferies analyst Brent Thill lowered the firm's price target on IBM to $210 from $215 and keeps a Hold rating on the shares. IBM remains a "show me story" as the company looks to reposition itself around a software-led strategy, the analyst tells investors in a research note. The firm likes the company's initiatives to bolster its software growth and profitability profile, but thinks better execution on the new go-to-market strategy and further investments in the organic engine are necessary to drive long-term software growth higher. Until signs of a re-energized software business are seen, IBM's risk/reward "seems balanced," Jefferies contends.

UBS raised the firm's price target on IBM to $130 from $125 and keeps a Sell rating on the shares. The firm updated its model, noting that a gain on the sale of Weather Channel assets lifts its Q1 EPS, but it lowered its view on the rest of the year.